Answered step by step
Verified Expert Solution
Question
1 Approved Answer
What is the finance charge for a 4 year, $13,000 loan with a 9% APR? Round your answer to the nearest cent. Do not
What is the finance charge for a 4 year, $13,000 loan with a 9% APR? Round your answer to the nearest cent. Do not include a dollar sign in your answer. 12t M = "(6)(1+)** (1+5) - (1+ a) (121 1 1 yr 2 yr 3 4 yr 5 yr 10 yr APR 12 Mo 24 Mo 36 Mo 48 Mo 60 Mo 120 Mo 6.00% $86.07 $44.32 $30.42 $30.54 $30.65 $30.76 $23.49 $86.18 $86.30 $86.41 $44.43 $44.55 $44.66 $19.33 $19.45 $11.10 $11.23 $11.35 6.25% $23.60 6.50% $23.71 $19.57 $23.83 $23.95 6.75% $19.68 $19.80 $11.48 $86.53 $86.64 7.00% $44.77 $44.89 $30.88 $30.99 $11.61 $11.74 $11.87 7.25% $24.06 $19.92 $20.04 7.50% $86.76 $45.00 $45.11 $45.23 $45.34 $45.46 $45.57 $45.68 $31.11 $24.18 7.75% $86.87 $86.99 $31.22 $31.34 $31.45 $24.30 $24.41 $20.16 $20.28 $20.40 $20.52 $12.00 $12.13 8.00% $12.27 $12.40 8.25% $87.10 $24.53 $24.65 $24.77 8.50% $87.22 $31.57 8.75% $87.34 $87.45 $87.57 $87.68 $87.80 $87.92 $31.68 $20.64 $12.53 $12.67 $12.80 9.00% $31.80 $31.92 $32.03 $24.89 $20.76 9.25% $45.80 $25.00 $20.88 $21.00 9.50% $45.91 $46.03 $25.12 $12.94 9.75% $32.15 $25.24 $21.12 $13.08 10.00% $46.14 $21.25 $13.22 $32.27 $32.38 $32.50 $32.62 $25.36 10.25% $88.03 $46.26 $25.48 $21.37 $21.49 $13.35 $88.15 $46.38 $25.60 $13.49 $13.63 10.50% 10.75% $8.27 $46.49 $25.72 $21.62 11.00% $88.38 $46.61 $32.74 $25.85 $21.74 $13.78
Step by Step Solution
★★★★★
3.50 Rating (147 Votes )
There are 3 Steps involved in it
Step: 1
1 094 1094 1 1r 1r 1 1094 1...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started